BrettFogle

BrettFogle

With Bull-Mania back in play... I was pontificating in my M3 active trader group today, about where the next market top could be, based on the Pi Cycle Top which has been very accurate in the past. When I saw it cross back in 2021, I thought to myself 'If must be wrong because we're going to $100k' but obviously we were all wrong about that. So this time, it's...

BrettFogle

BTC Prediction: New highs by February 1st and holding $70k as support by the April Halving. Possible $100k, $155k, $212K Bitcoin in the cards for this Bull Run. Here are 9 factors (and 2 scenarios) that could get us there much faster than anyone expects... tradingview.com 1. BlackRock & Fidelity ETF's Approval 2. QE Money Printing To Pay Down US Debt 3. Bank...

BrettFogle

Here's my revised "Potential Path To $100k+" chart, adding in new factors that further point to the higher Fibonacci targets. Similarly, the 3.618 accurately predicted the exact market cycle top in 2021 (drawn from the 2018 Hi / Low cycle)... Worth noting - see chart. The following factors show 3 levels for Bitcoin upside in 2024, which I've labeled as 3...

BrettFogle

Bitcoin's monthly chart is looking more and more like a macro Bull-Flag which interestingly puts price to around $50k, the same as the Fibonacci Golden Pocket target. I was waiting to see if we'd see the Bull Flag play our, or a shallow Head and Shoulders / Triple Top pattern. Hard to say, but overall it feels Bullish. BTC has gone up 15% in the last 7 days, so...

BrettFogle

For weeks Bitcoin has been forming this symmetrical wedge pattern, and having trouble breaking above the critical $32k resistance zone. Once BTC can break and close about $32k, I think it's a fast move to the Fib Golden Pocket between FWB:48K -$50k. But for now, this wedge pattern needs a clear directional breakout. While we could still see a weak Head and...

BrettFogle

I posted this chart (slightly revised) months ago, with these levels of where the DXY could take us in terms of overall crypto market direction, especially Bitcoin. It's taken awhile to get here... But today's XRP news, all signals are pointing to an incoming rally for the crypto markets. Granted, the inverse correlation between DXY and Bitcoin / Crypto may...

BrettFogle

With today's price action Bitcoin has come down to test the 25,300 level. This has been a very important resistance level in the past that once it broke above this level, it needed to come back and retest as support. As we can see, there's also an upward trending trading range / trend channel (In Blue) that has held well twice before. Hopefully BTC bounces...

BrettFogle

Bitcoin is breaking the neckline here for the current Head and Shoulders pattern that's been forming the last few weeks. My target for Bitcoin is to come down and re-test the important support zone at / around $25,300 - $25,500 which would be a strong support level to bounce from. Having a reset here and providing a slid launch point would likely push us to the...

BrettFogle

For those who still believe as I do, that we'll see new highs in the crypto markets sooner than later... Here's my purely speculative chart showing the 'Path to $100k Bitcoin' in 2023. It would be the perfect storm of economic forces coming together, and creating an unstoppable move higher. This scenario would be fueled by the following 3 things: 1....

BrettFogle

On this DXY chart or 'map' I've outlined where the corresponding Bitcoin and crypto price movements should go with the DXY rising or falling. Weakness in the dollar, and the specter of losing it as the world reserve currency, and more countries joining the BRICS nations, the DXY is under heavy pressure. In this graph we can see that the BRICS GDP has now...

BrettFogle

This monthly chart of Bitcoin shows we're either setting up for a Bull-Flag breakout, or potential breakdown to re-test the $15k-$16.5 lows. Either way, I think the bottom is in or almost in. The big questions is whether we see the re-test like in the 2015-2016 bottom, or push through and never look back like in 2019. If we push higher here and have a daily...

BrettFogle

Looking at my DXY zones of likely corresponding crypto effects... At this resistance area for the DXY, I would expect some kind of short to medium term pullback over the coming days or weeks. This would likely correspond to some level of bounce in Bitcoin, which I'm also expecting once it falls down to the $22,200 level, creating what looks like a Bull-Flag...

BrettFogle

The DXY is at a pivotal point here, and potentially breaking higher into a new upward trend channel. This would be bad for Bitcoin and crypto overall as the DXY has a strong inverse relationship. If the DXY stays in this area and drifts lower we could see a short-term crypto rally including Bitcoin and Ethereum. If it breaks up above the 103.5 to 104 level,...

BrettFogle

The weekly DXY chart appears to have bottomed and turning higher, which likely will lead to some profit taking pullback on Bitcoin and crypto overall, which is not unexpected here. I've outlined the zones here for where we could see more trouble for Bitcoin and crypto if the DXY pushes higher. Of course if we breakdown below support, and DXY that heads lower,...

BrettFogle

The market market rally has been fueled by the dropping DXY, but it's now close to important support. Will the DXY rally from here? Are we being setup for a disappointing FOMC announcement that could crash the markets, and see the DXY shoot higher? Or are we about to see a DXY breakdown here, and a 'Melt Up' situation in crypto -- before seeing another leg down...

BrettFogle

If you've been trading and investing long enough... (For me 25 years) You know that the 'News' conveniently gets released, to support market moves that have already happened. Not always, but more often than not. This news headline today makes me laugh, because we clearly shot up to technical resistance. People who say TA 'Doesn't Work' also make me laugh,...

BrettFogle

As we know, the DXY has an inverse relationship to BTC and the overall crypto markets. The DXY is now dropping down below key support in the 103 region, and looks like it will head lower to 101 or below. If this continues, that's good for a continuation in the rally in BTC and the broader markets. However, if it holds here and pushes higher into the 106-108...

BrettFogle

Interesting chart showing potential new up-trending channel for Bitcoin. To me, it looks and 'feels' like the bottom is in, coupled with an Alt-coin rally, as the AltPerp Index is showing clear signs up trending up. Also ETH.D is holding the line in it's uptrend that started back in Nov of 2019, and USDT.D which is inversely correlated to crypto prices, is...